UK hospitality group Loungers to be bought by US firm for £338m
by PA Media from US news | The Guardian on (#6SJ7S)
London-listed company strikes deal with Fortress Investment Group, although shareholder approval needed
The cafe bar business Loungers has agreed to be bought by a US investment group in a deal that values it at about 338m.
Fortress Investment Group said it had made an offer for the UK hospitality group through a newly formed investment vehicle.
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